Green Dot (NYSE:GDOT) Rating Increased to Hold at StockNews.com

Green Dot (NYSE:GDOT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods dropped their target price on Green Dot from $12.50 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. TheStreet lowered Green Dot from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. Finally, Truist Financial lifted their target price on Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Green Dot currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Green Dot Price Performance

NYSE GDOT opened at $9.02 on Wednesday. The firm has a market cap of $476.26 million, a P/E ratio of 68.47 and a beta of 1.04. The stock’s 50-day moving average is $8.62 and its 200-day moving average is $9.34. Green Dot has a one year low of $7.30 and a one year high of $21.37.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. The company had revenue of $361.72 million for the quarter, compared to analyst estimates of $350.14 million. Equities analysts anticipate that Green Dot will post 0.9 EPS for the current year.

Insider Buying and Selling at Green Dot

In related news, CRO Christian Devin Ruppel purchased 33,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was purchased at an average cost of $9.06 per share, for a total transaction of $298,980.00. Following the completion of the purchase, the executive now directly owns 101,715 shares in the company, valued at $921,537.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Green Dot news, CRO Christian Devin Ruppel bought 33,000 shares of Green Dot stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $9.06 per share, for a total transaction of $298,980.00. Following the purchase, the executive now owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Principal Co Lp Starboard sold 75,729 shares of Green Dot stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $8.58, for a total value of $649,754.82. Following the transaction, the insider now owns 270,207 shares of the company’s stock, valued at $2,318,376.06. The disclosure for this sale can be found here. Corporate insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GDOT. Assenagon Asset Management S.A. lifted its holdings in Green Dot by 360.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 777,929 shares of the financial services provider’s stock worth $10,837,000 after purchasing an additional 609,084 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Green Dot during the 3rd quarter worth approximately $7,869,000. Smith Graham & Co. Investment Advisors LP lifted its holdings in Green Dot by 54.1% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 597,403 shares of the financial services provider’s stock worth $5,914,000 after purchasing an additional 209,818 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Green Dot by 428.0% during the 4th quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 90,402 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Green Dot by 33.3% during the 4th quarter. Hsbc Holdings PLC now owns 340,073 shares of the financial services provider’s stock worth $3,408,000 after purchasing an additional 84,894 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.